When to Update Your Will in Berrien County, MI
Your will, often called your “Last Will and Testament,” is a vital part of your estate plan. It outlines how you want your assets distributed and who will manage your estate after your passing. However, life circumstances and laws can change, which means your will may need updates over time.
Working with experienced Michigan will lawyers ensures your estate plan remains accurate and legally enforceable.
Life Events That Require Updating Your Will in Michigan
Life circumstances can change quickly, and your will should reflect your current wishes and priorities. Certain events may require updates to ensure your estate plan continues to protect your loved ones and distribute your assets as intended. Understanding these situations can help you determine when it’s time to revisit your will.
Marriage or Divorce
Changes in your marital status can significantly impact your estate plan. Whether you’re getting married or divorced, updating your will to reflect new relationships and responsibilities is essential.
Birth or Adoption of Children
Welcoming a new family member requires an update to your estate plan. Make sure your children, whether biological or adopted, are included in your will and provided for according to your wishes.
Significant Financial Changes
Acquiring new assets or experiencing significant financial changes can impact how your estate is distributed. Adjusting your will allows you to allocate your assets appropriately.
Beneficiary Changes
If your relationships with beneficiaries change or a beneficiary has passed away, your will should be updated to reflect these changes. Keeping your beneficiary designations up to date helps avoid potential disputes.
Changes in Law
Michigan’s legal landscape can shift, impacting the validity or effectiveness of your estate plan. Regular reviews ensure your will remain compliant with current laws and remain enforceable.
Serving Southwest Michigan, Legacy Counsel offers comprehensive and meticulous will drafting and updating services, ensuring that every aspect reflects your unique needs, family dynamics, and business interests.
How to Change Your Will in Michigan?
Changing your will involves a few crucial steps to confirm that your updated wishes are legally recognized.
1. Review Your Current Will
The first step to changing your will is to carefully review your existing will to understand its contents and identify what needs to be updated. Identify areas that need updating and consider consulting with an estate planning attorney to address any questions or concerns you may have.
2. Draft a New Will or Add a Codicil
There are two primary options for updating your will:
- Write a New Will: Creating a new will may be the best choice if substantial changes are needed. This will entirely replace your old will and ensure all updates are included.
- Add a Codicil: A codicil is a legal document that amends an existing will. This can be a more straightforward option if only minor changes are needed to the existing will. However, the codicil must be executed with the same legal formalities as the original will.
3. Sign &Witness the Changes
For the changes you made to your will to be legally valid, they must be signed and witnessed according to Michigan laws. Double-check that all required signatures and witnesses are properly completed to avoid issues with the will’s validity.
4. Safely Store Your Updated Will
Once your will is updated, store it securely to prevent loss or elemental damage. Inform your executor or trusted family members where it can be found. This will protect your wishes and reduce the risk of disputes or confusion.
5. Notify the Relevant Parties
Once your will has been updated and validated, inform your executor (more commonly called “Personal Representative” in Michigan) and family members of the changes made. Keeping everyone informed helps prevent misunderstandings and keep everyone aware of your intentions.
FAQs About Updating a Will in Michigan
How often should I review my will?
It’s recommended to review your will every three to five years or after significant life events such as marriage, divorce, the birth of a child, or substantial financial changes. Regular reviews help keep your estate plan accurate and enforceable.
What happens if I don’t update my will after major life changes?
Failing to update your will can lead to unintended consequences, such as excluding new family members or significant assets. It may also cause probate delays and potential disputes among beneficiaries.
Do I need witnesses to update my will in Michigan?
Yes. Any changes to a will must be signed and witnessed by at least two individuals who are not beneficiaries to be legally valid under Michigan law.
Can I change my will if I am out of state?
Yes. You can make changes while out of state, but it is crucial to ensure that modifications comply with Michigan law if you reside in Michigan or own Michigan assets.
What is a codicil, and when should it be used?
A codicil is a legal document that amends an existing will. It is helpful for minor changes, such as updating beneficiaries or executors, without drafting a new will entirely.
Why Work with Legacy Counsel?
Our services extend beyond being lawyers who handle wills. We nurture client relationships and remain accessible. From the moment you sign your documents, we commit to being with you and your loved ones every step of the way.
Legacy Clients Benefit From
- A Fully Custom & Valid Michigan Will
- Clear & Upfront Pricing
- 3 Year Reviews at No Additional Cost
- Open & Honest Communication
- E-Signature Capability, Virtual Consults & Expedited Services.
Contact Legal Counsel today to book a consultation. We will answer all your questions and address your concerns. Schedule a Consultation.
Our Attorneys Can Help
- Create a New Will
- Update Your Existing Will
- Choose an Executor
- Select Guardians
- Evaluate Assets & Beneficiaries
- Provide Estate Tax Guidance
- Integrate Life Insurance Policies
- Establish Trusts
- Make Charitable Plans
- Transfer Wealth & Gifts
- Expedite Probate
Legacy Counsel Ensures Your Will is Current & Clear
Based in St. Joseph, Legacy Counsel PLC is a boutique estate planning law firm serving Southwest MI, including Berrien County, Cass County, Van Buren County, and more.
View Our Full Areas Served. Call 269-386-5782 or fill out our online contact form to start securing your future today.
